BNP Paribas

Major Shareholding Notification • Feb 21, 2025

National Storage Mechanism | Additional information

RNS Number : 0833Y

BNP Paribas London

21 February 2025

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Full name of discloser:	BNP Paribas SA
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):      The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:      Use a separate form for each offeror/offeree	Aviva plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:      For an opening position disclosure, state the latest practicable date prior to the disclosure	20/02/2025
(f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?      If it is a cash offer or possible cash offer, state "N/A"	Yes If YES, specify which: Direct Line Insurance Group plc

2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	GB00BPQY8M80 (32 17/19p ordinary)
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	22,795,347	0.8513	-20,075,458	-0.7497
(2) Cash-settled derivatives:	5,611,252	0.2096	-13,890,026	-0.5187
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	586,000	0.0219	+0	+0.0000
TOTAL:	28,992,599	1.0828	-33,965,484	-1.2685

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)        Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a)        Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
GB00BPQY8M80	Purchase	2	4.9777 GBP
GB00BPQY8M80	Purchase	2	5.0074 GBP
GB00BPQY8M80	Purchase	2	5.0092 GBP
GB00BPQY8M80	Purchase	2	5.0100 GBP
GB00BPQY8M80	Purchase	2	5.0105 GBP
GB00BPQY8M80	Purchase	2	5.0161 GBP
GB00BPQY8M80	Purchase	2	5.0186 GBP
GB00BPQY8M80	Purchase	2	5.0187 GBP
GB00BPQY8M80	Purchase	2	5.0277 GBP
GB00BPQY8M80	Purchase	2	5.0278 GBP
GB00BPQY8M80	Purchase	5	4.9507 GBP
GB00BPQY8M80	Purchase	5	4.9576 GBP
GB00BPQY8M80	Purchase	10	4.9529 GBP
GB00BPQY8M80	Purchase	11	4.9521 GBP
GB00BPQY8M80	Purchase	22	4.9620 GBP
GB00BPQY8M80	Purchase	36	4.9717 GBP
GB00BPQY8M80	Purchase	55	4.9540 GBP
GB00BPQY8M80	Purchase	56	4.9520 GBP
GB00BPQY8M80	Purchase	57	4.9540 GBP
GB00BPQY8M80	Purchase	67	4.9520 GBP
GB00BPQY8M80	Purchase	81	4.9500 GBP
GB00BPQY8M80	Purchase	81	4.9813 GBP
GB00BPQY8M80	Purchase	85	4.9501 GBP
GB00BPQY8M80	Purchase	93	4.9520 GBP
GB00BPQY8M80	Purchase	110	4.9900 GBP
GB00BPQY8M80	Purchase	609	4.9600 GBP
GB00BPQY8M80	Purchase	700	4.9600 GBP
GB00BPQY8M80	Purchase	794	4.9680 GBP
GB00BPQY8M80	Purchase	848	4.9970 GBP
GB00BPQY8M80	Purchase	894	4.9812 GBP
GB00BPQY8M80	Purchase	902	4.9600 GBP
GB00BPQY8M80	Purchase	976	4.9600 GBP
GB00BPQY8M80	Purchase	1,146	4.9600 GBP
GB00BPQY8M80	Purchase	1,922	4.9652 GBP
GB00BPQY8M80	Purchase	5,506	4.9701 GBP
GB00BPQY8M80	Purchase	8,011	4.9609 GBP
GB00BPQY8M80	Purchase	9,456	4.9615 GBP
GB00BPQY8M80	Purchase	13,249	4.9577 GBP
GB00BPQY8M80	Purchase	13,469	4.9600 GBP
GB00BPQY8M80	Purchase	16,938	4.9859 GBP
GB00BPQY8M80	Purchase	28,499	4.9908 GBP
GB00BPQY8M80	Purchase	31,536	4.9683 GBP
GB00BPQY8M80	Purchase	32,513	4.9739 GBP
GB00BPQY8M80	Purchase	32,631	4.9760 GBP
GB00BPQY8M80	Purchase	37,500	4.9600 GBP
GB00BPQY8M80	Purchase	38,842	4.9693 GBP
GB00BPQY8M80	Purchase	40,876	4.9789 GBP
GB00BPQY8M80	Purchase	41,942	4.9587 GBP
GB00BPQY8M80	Purchase	46,992	4.9701 GBP
GB00BPQY8M80	Purchase	79,691	4.9603 GBP
GB00BPQY8M80	Purchase	95,487	4.9600 GBP
GB00BPQY8M80	Purchase	163,745	4.9608 GBP
GB00BPQY8M80	Purchase	318,199	4.9779 GBP
GB00BPQY8M80	Purchase	2,011,570	4.9750 GBP
GB00BPQY8M80	Sale	-395,031	4.9600 GBP
GB00BPQY8M80	Sale	-280,283	4.9628 GBP
GB00BPQY8M80	Sale	-117,815	5.0020 GBP
GB00BPQY8M80	Sale	-64,284	4.9664 GBP
GB00BPQY8M80	Sale	-61,547	4.9600 GBP
GB00BPQY8M80	Sale	-47,869	4.9600 GBP
GB00BPQY8M80	Sale	-26,721	4.9600 GBP
GB00BPQY8M80	Sale	-9,435	4.9600 GBP
GB00BPQY8M80	Sale	-9,100	4.9600 GBP
GB00BPQY8M80	Sale	-3,934	4.9626 GBP
GB00BPQY8M80	Sale	-2,889	4.9609 GBP
GB00BPQY8M80	Sale	-2,768	4.9650 GBP
GB00BPQY8M80	Sale	-2,052	4.9630 GBP
GB00BPQY8M80	Sale	-1,748	4.9674 GBP
GB00BPQY8M80	Sale	-1,203	4.9601 GBP
GB00BPQY8M80	Sale	-902	4.9600 GBP
GB00BPQY8M80	Sale	-902	4.9600 GBP
GB00BPQY8M80	Sale	-794	5.0080 GBP
GB00BPQY8M80	Sale	-708	4.9630 GBP
GB00BPQY8M80	Sale	-635	4.9515 GBP
GB00BPQY8M80	Sale	-604	4.9588 GBP
GB00BPQY8M80	Sale	-556	4.9600 GBP
GB00BPQY8M80	Sale	-550	5.0000 GBP
GB00BPQY8M80	Sale	-518	4.9636 GBP
GB00BPQY8M80	Sale	-201	5.0012 GBP
GB00BPQY8M80	Sale	-200	4.9805 GBP
GB00BPQY8M80	Sale	-175	5.0000 GBP
GB00BPQY8M80	Sale	-11	4.9521 GBP
GB00BPQY8M80	Sale	-10	4.9529 GBP
GB00BPQY8M80	Sale	-5	4.9507 GBP
GB00BPQY8M80	Sale	-5	4.9576 GBP
GB00BPQY8M80	Sale	-2	4.9777 GBP
GB00BPQY8M80	Sale	-2	5.0074 GBP
GB00BPQY8M80	Sale	-2	5.0092 GBP
GB00BPQY8M80	Sale	-2	5.0100 GBP
GB00BPQY8M80	Sale	-2	5.0105 GBP
GB00BPQY8M80	Sale	-2	5.0161 GBP
GB00BPQY8M80	Sale	-2	5.0186 GBP
GB00BPQY8M80	Sale	-2	5.0187 GBP
GB00BPQY8M80	Sale	-2	5.0277 GBP
GB00BPQY8M80	Sale	-2	5.0278 GBP

(b)        Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
GB00BPQY8M80	Contract for Difference	Opening Short Position	-33,762	4.9600 GBP
GB00BPQY8M80	Contract for Difference	Opening Short Position	-4,947	4.9600
GB00BPQY8M80	Contract for Difference	Opening Short Position	-2,201	4.9600
GB00BPQY8M80	Contract for Difference	Opening Short Position	-49,027	4.9600
GB00BPQY8M80	Contract for Difference	Opening Short Position	-2,333	4.9600
GB00BPQY8M80	Contract for Difference	Closing Short Position	395,031	4.9600
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-63,343	4.9600
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-50,313	4.9600
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-21,341	4.9600
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-112,337	4.9600
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-13,804	4.9600
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-147	4.9600
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-6,114	4.9600
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-31,536	4.9600 GBP
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-7,954	4.9600 GBP
GB00BPQY8M80	Contract for Difference	Increasing Short Position	-95,487	4.9600
GB00BPQY8M80	Contract for Difference	Reducing Short Position	13,517	4.9600

(c)        Stock-settled derivative transactions (including options)

(i)         Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii)        Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit

(d)        Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)

4.         OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state "none"
None

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i)  the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none"
None

(c)        Attachments

Is a Supplemental Form 8 (Open Positions) attached?	Yes

###### Date of disclosure:	21/02/2025
###### Contact name:	Compliance Control Room
###### Telephone number*:	0207 595 9695

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk .

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS,

AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

1.	KEY INFORMATION

Full name of person making disclosure:	BNP Paribas SA
Name of offeror/offeree in relation to whose  relevant securities the disclosure relates:	Aviva plc

2.	STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

Class of relevant security	Product description e.g. call option	Written or purchased	Number of securities to which option or derivative relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date
32 17/19p ordinary (GB00BPQY8M80)	Put Option	W	500000	4.96	american	18/12/2026
32 17/19p ordinary (GB00BPQY8M80)	Call Option	P	86000	4.96	american	19/12/2025

3.	AGREEMENTS TO PURCHASE OR SELL ETC.

Full details should be given so that the nature of the interest or position can be fully understood:

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

The currency of all prices and other monetary amounts should be stated.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk

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